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Thread: Suspense Account Balance

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    Unhappy Suspense Account Balance

    I have captured opening balances for debtors, creditors, bank on Pastel for the 2013 year, how do I get rid of these balances in the suspense sub accounts

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    Platinum Member Neville Bailey's Avatar
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    There should be a net zero balance in the suspense main account if you processed your opening balances correctly.
    Neville Bailey - Pastel Accounting Consultant and Photographer
    neville@accountingsoftwaresupport.co.za
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    *** 20% DISCOUNT ON PASTEL XPRESS / PARTNER SOFTWARE UNTIL 15 DECEMBER 2017 ***

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    FazilH (20-Sep-12)

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    It never ceases to amaze me how many people register on a forum and barge straight in and ask their question, dont even introduce themselves or anything - what happened to manners and reading the forum etiquite ?

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    Quote Originally Posted by Neville Bailey View Post
    There should be a net zero balance in the suspense main account if you processed your opening balances correctly.
    Thanks Neville, the main account does have a nil balance and was wondering how do i get rid of the balance in the sub accounts

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    My apologize Kevin, I'm new to this so still finding my way around

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    Platinum Member Neville Bailey's Avatar
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    Quote Originally Posted by FazilH View Post
    Thanks Neville, the main account does have a nil balance and was wondering how do i get rid of the balance in the sub accounts
    I suggest that you pass a general journal to clear all the suspense sub-accounts (except the first one), using the first one as the contra account.
    Neville Bailey - Pastel Accounting Consultant and Photographer
    neville@accountingsoftwaresupport.co.za
    www.accountingsoftwaresupport.co.za
    View Neville Bailey Photography

    *** 20% DISCOUNT ON PASTEL XPRESS / PARTNER SOFTWARE UNTIL 15 DECEMBER 2017 ***

    "Give every person more in use value than you take from them in cash value."
    WALLACE WATTLES (1860-1911)

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    Site Caretaker Dave A's Avatar
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    Quote Originally Posted by FazilH View Post
    My apologize Kevin, I'm new to this so still finding my way around
    Don't sweat it, Fazil
    The trouble with opportunity is it normally comes dressed up as work.

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